Swiss National Bank Grows Position in CorVel Co. (NASDAQ:CRVL)

Swiss National Bank increased its holdings in CorVel Co. (NASDAQ:CRVL) by 200.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 55,500 shares of the business services provider’s stock after buying an additional 37,000 shares during the quarter. Swiss National Bank owned about 0.11% of CorVel worth $6,175,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. SkyView Investment Advisors LLC grew its holdings in shares of CorVel by 1.6% in the third quarter. SkyView Investment Advisors LLC now owns 4,351 shares of the business services provider’s stock worth $1,422,000 after acquiring an additional 67 shares during the period. Fifth Third Bancorp grew its stake in shares of CorVel by 45.9% during the 4th quarter. Fifth Third Bancorp now owns 321 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 101 shares during the period. Advisors Asset Management Inc. increased its position in shares of CorVel by 121.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 204 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 112 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of CorVel by 4.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 2,848 shares of the business services provider’s stock worth $931,000 after purchasing an additional 124 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of CorVel by 9.9% in the third quarter. Franklin Resources Inc. now owns 1,917 shares of the business services provider’s stock worth $614,000 after buying an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 51.36% of the company’s stock.

Insider Buying and Selling at CorVel

In related news, CFO Brandon O’brien sold 1,523 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $119.56, for a total value of $182,089.88. Following the transaction, the chief financial officer now directly owns 17,142 shares of the company’s stock, valued at approximately $2,049,497.52. The trade was a 8.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven J. Hamerslag sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $123.48, for a total value of $1,234,800.00. Following the completion of the transaction, the director now owns 314,000 shares of the company’s stock, valued at $38,772,720. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,200 shares of company stock valued at $3,824,115 over the last 90 days. 47.57% of the stock is currently owned by corporate insiders.

CorVel Stock Performance

NASDAQ CRVL opened at $107.86 on Monday. The business’s fifty day moving average is $112.06 and its 200 day moving average is $114.27. CorVel Co. has a fifty-two week low of $76.20 and a fifty-two week high of $128.61. The company has a market capitalization of $5.54 billion, a PE ratio of 63.45 and a beta of 1.06.

CorVel (NASDAQ:CRVL) last posted its quarterly earnings data on Tuesday, February 4th. The business services provider reported $0.46 earnings per share for the quarter. CorVel had a return on equity of 32.22% and a net margin of 10.12%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of CorVel from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th.

CorVel Profile

CorVel Corporation provides workers’ compensation, auto, liability, and health solutions. It applies technology, including artificial intelligence, machine learning, and natural language processing to enhance the managing of episodes of care and the related health care costs. The company also offers network solutions services, including automated medical fee auditing, preferred provider management and reimbursement, retrospective utilization review, facility claim review, professional review, pharmacy, directed care, clearinghouse, independent medical examination, and inpatient medical bill review services, as well as Medicare solutions.